Keefe, Bruyette & Woods Boosts Hippo (NYSE:HIPO) Price Target to $32.00

Key Points

• Keefe, Bruyette & Woods raised Hippo's price target from $30 to $32 while maintaining a "market perform" rating, implying about a 15.8% upside from the prior close.
• Analyst sentiment is split (three Buy, three Hold) with a consensus rating of Moderate Buy and an average target price of $38.33.
• Shares traded at $27.64 with a market cap of ~$717.7M and a P/E of 6.4; Hippo reported quarterly EPS of $0.67 on $120.4M revenue and a 23.45% net margin, while insiders sold ~21,705 shares in the last 90 days and own 10.8%.

Hippo (NYSE:HIPO - Get Free Report) had its price target hoisted by analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 15.80% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Zacks Research raised Hippo to a "hold" rating in a report on Tuesday, March 3rd. B. Riley Financial initiated coverage on shares of Hippo in a research report on Friday, April 17th. They set a "buy" rating and a $38.00 price target on the stock. Finally, Weiss Ratings raised shares of Hippo from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Hippo Stock Up 0.9%

Shares of Hippo stock traded up $0.25 during trading hours on Thursday, reaching $27.64. 35,132 shares of the company's stock were exchanged, compared to its average volume of 125,996. The stock has a market cap of $717.68 million, a P/E ratio of 6.40 and a beta of 1.53. The company has a 50 day moving average of $26.92 and a two-hundred day moving average of $29.98. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. Hippo has a fifty-two week low of $19.92 and a fifty-two week high of $38.98.

Hippo (NYSE:HIPO - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $120.40 million for the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. On average, sell-side analysts forecast that Hippo will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Hippo

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $26.05, for a total transaction of $130,250.00. Following the completion of the sale, the chief executive officer owned 610,650 shares of the company's stock, valued at $15,907,432.50. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Torben Ostergaard sold 6,105 shares of the firm's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $28.57, for a total value of $174,419.85. Following the sale, the chief executive officer directly owned 46,694 shares of the company's stock, valued at $1,334,047.58. This represents a 11.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,705 shares of company stock valued at $597,934 in the last ninety days. Insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Hippo by 149.6% in the third quarter. Principal Financial Group Inc. now owns 70,791 shares of the company's stock worth $2,560,000 after purchasing an additional 42,427 shares during the period. Huntleigh Advisors Inc. bought a new position in shares of Hippo in the third quarter worth $2,170,000. Boothbay Fund Management LLC increased its position in shares of Hippo by 500.9% in the third quarter. Boothbay Fund Management LLC now owns 60,795 shares of the company's stock worth $2,198,000 after purchasing an additional 50,677 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Hippo in the third quarter worth $963,000. Finally, Spire Wealth Management bought a new position in shares of Hippo in the fourth quarter worth $324,000. Institutional investors own 43.01% of the company's stock.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo's policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.

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